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because countries in the eu or even the euro zone are very, very different to what germany or portugal or greece or italy to the east, it's a very, very different situation, in that, that means we need also all a bit of time, education, infrastructure investment, all this is needed so that they have, let's say, a growth perspective for the next years. >> thank you. take another round of questions. >> [inaudible] >> the federal reserve hester medical increased its balance sheet since the great recession. about 20, 30 years, it didn't very all that much. suddenly very large increase. is the federal reserve comfortable in that it has an exit strategy so that we don't have either major inflation -- [inaudible] or major losses from purchasing assets and resale trying to bring back this money. thank you. >> a very quick to comment. [inaudible] i'm very happy to american colleagues. i think that we in europe -- [inaudible] [inaudible] [inaudible] >> and in the back. did you have your hand up? >> that's what we do. any other questions? okay. is the one back you? >> i'm not an economist. i'm a
to employ unconventional tools to further eu's monetary policy, even though the efficacy of these tools was uncertain and it was recognized that their use might carry some potential cost. the better known of these tools is the purchase of large amounts of longer-term government security, what is commonly referred to as quantitative easing. the other in conventional tool is not as forward guidance, providing information about the future path of short-term interest rates anticipated by the committee. both of these approaches are intended to address a gap caused by the effective lower bound. this gap is the shortfall between what the fomc likely would do in current economic circumstances, were it able to reduce the federal funds rate below zero the reality that the rate can't be cut further. i believe the federal reserve's asset purchases and other unconventional policy actions have helped, and are continuing to help fill this gap and to sure up -- short of aggregate demand the evidence just the fomc's actions to lower short and longer term borrowed rates and boost asset prices. howeverpri
u.s. emissions are actually down, i think it is 8%. eu emissions are down like 9%. but chinese emissions are up 30%. look at, look at where the coal is being burned. i think in five years india is supposed to become the second largest burner of coal right behind china. so the global picture on emissions is, if the national one wasn't enough to make you cry, i mean, just sort of think globally as sort of where we're going, you know? so, that's the crying part. and you asked me bright spots so. i mean there actually are, there actually are some, relax, i mean, the news, car standards that were just promulgated will double fuel economy by 2020 five. california is moving ahead and i think is a real bright spot. rggi is strengthening their targets. that's a bright spot. the cap-and-trade in australia looks like, i mean, who knows, another government might fall over their program here but it's a bright spot. they have got a plan. they have got a program. south korea is thinking about instituting emissions trading. china has seven sort of experiments around the country looking at emis
Search Results 0 to 2 of about 3

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